Q. I plan to retire in December 2014, when I will be 60 years and six months old. I plan on drawing the special retirement supplement for about 1½ years. I would be taking approximately $1,000 a month from my Thrift Savings Plan. Would the amount I receive from TSP be counted as earnings toward my $15,000 yearly limit? Also, when I start to draw my regular Social Security check, will the amount I receive from TSP be counted as income also?
Browsing: Earnings test
Q. I will be taking an early-out on Dec. 31 and will be turning 60 in March. How much can I earn working another job, before my supplement is reduced? I am FERS and will have 26 years on Dec. 7.
Q. I retired under FERS in January 2010 after 23 years of service. In September 2012, I reached my minimum retirement age of 56½ and started receiving a supplemental annuity since I was too young to begin receiving Social Security benefits. I was informed that if I was employed and making over $14,000 a year, I would lose the supplemental annuity, calculated proportionately with how much I was making over the $14,000 threshold. Is nontaxable income considered income that would affect my supplemental annuity payment? Does tax-exempt income earned overseas affect my supplemental annuity payments?
Q. I plan to retire soon with over 30 years of creditable federal service time. I will be age 58 when I retire. If I were to take a part-time job (private sector, not federal service) after I retire, would any of my FERS retirement benefits be affected?
Q. In 2012, at age 52, I retired from federal law enforcement with nearly 28 years of creditable service, and began to draw my pension and special retirement supplement. At what age does the earnings test begin for the purpose of reducing my SRS (I was born in June 1960)?
Q. I am 53 with 24 years of creditable service. My agency may offer a Voluntary Early Retirement Authority due to sequestration. If I am offered a VERA and I accept, I would start a Thrift Savings Plan annuity in the amount of approximately $5,000 per month. Is this considered income for the earnings limitation and the special retirement supplement? This would supplement my retirement annuity. I would be well over the $14,500 earnings limit. How would this impact any additional income from other private consulting work?
Q. I am FERS employee planning to retire Jan. 31, 2014. I will receive a check for unused annual leave when I retire. I know the annual leave payment will be taxed and Social Security taken out. Is that annual leave payment considered income against the $15,000 that I can earn without affecting my Social Security benefit in 2014? Is the annual leave payment considered in establishing my Social Security benefit? The annual leave payment check will be over $15,000.
Q. I am a 52-year-old widow of an employee who died while employed. He was 55 years old with 25 years under FERS. Am I now entitled to the special retirement supplement until age 60 if my earned wages are under the Social Security limit?
Q. I am a federal employee and will be turning 60 in 2020. How old will I have to be to get early benefits for Social Security?
Q. I retired after 28 years of active duty in the military and am receiving my retirement pay. If I decide to take Social Security at 62 years of age, will it be offset based on retirement income?